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Market Chatter: Norwegian Oil, Gas Workers Plan Strike if Wage Negotiations Fail

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Almost 8% of offshore oil and gas workers in Norway intend to launch a strike if negotiations over wages, mediated by the state, do not yield any results, Reuters reported Monday, citing labour union data.

Three workers unions Styrke, Lederne and Safe, representing about 8,100 members involved in oil production, are involved in negotiations with Norwegian oil companies. Among other demands, workers are seeking a pay hike above inflation, the report said.

The three unions represent most of the workers in Norway's offshore oil and gas facilities.

A collapse in discussions between the negotiating parties could lead to a curtailment in output, with 617 workers expected participate in the initial strikes if a deal is not reached, with the potential for escalation in action over time, the report said

A spokesperson for Offshore Norway, which is representing the oil industry in these negotiations, in an emailed statement to, said: "We are working on assessing the potential impact of a strike, and should have these numbers within a couple of days."

has also reached out to the three trade unions for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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